'Not going to happen': Some in GOP no fan as White House flirts with hiking taxes on rich

Republicans in the White House, Senate, and House are discussing a possible new tax bracket that would raise taxes on very wealthy people — specifically those making $1 million or more per year.

But not everyone in the GOP is thrilled with the notion.

Bloomberg reported Tuesday that the plan "signals the GOP under President Donald Trump is seriously considering ideas to raise taxes on the rich." The House proposal would establish a new rate of 40% for taxpayers earning at least $1 million a year, people familiar with the plan told the outlet. Currently, it’s 37% for people earning over $626,350 a year.

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Aides in the Senate and the Trump administration have been studying the idea, according to the report.

"A White House official, speaking on the condition of anonymity to discuss private conversations, said Trump is open to the idea of a new top tax bracket. However, the person emphasized that the higher rate should kick in at a threshold far greater than $1 million," the report added.

Some of Trump's previous tax cuts are set to expire this year, so the GOP is working on a new tax bill. They have been searching for ways to pay for new tax breaks Trump wants to add, such as no taxes on tips or overtime.

Treasury Secretary Scott Bessent told Bloomberg News on Monday that “everything is on the table” with regard to the tax bill.

But some Republicans aren't taking to the idea.

“It’s not going to happen,” Americans for Tax Reform’s Grover Norquist said Tuesday.

House Speaker Mike Johnson also downplayed the idea, telling a reporter last week, “We’ll have to see." House Republicans have said they want to cut taxes rather than raise them.